find the compound interest if 5000 are invested for 3years at the rate of 8 p.c.p.a
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Answer:
p=5000
R=8%
T=3yrs
A=p(1+r)/100
=5000(1+8/100)³
=5000(108/100)³
=5000(27/25)³
=5000(19683/15625)
=0.32×19683
A=6298.56
CI=A-P
=6298.56-5000
CI=1298.56
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